SMU top 20 per cent of its graduates starting pay average $5,062

[blackswan]

In addition, the top 20 per cent of its graduates, usually those working in financial institutions, took home an average salary of $5,062. There were some among the 125 top-earners who were paid up to $13,000 a month.

Originally Posted by blackswan

In addition, the top 20 per cent of its graduates, usually those working in financial institutions, took home an average salary of $5,062. There were some among the 125 top-earners who were paid up to $13,000 a month.

we need more details on the high earners. for totally fresh grad, how much value can he/she add? don't forget that his person comes with zero relevant experience. totally unproven.

if i'm a hiring manager, how do i justify this guy getting so much pay? if he fails to deliver, it's gonna look bad on me.

i remember this has been discussed somewhere in this website (gotta dig). some people speculated that such a high earner could be some rich man's son and has connections to big shots in MNCs and banks, or the rich man himself hired the son.

but that said, i know of a girl getting hired into dealing room at 8k. but she's very smart and very pretty to boot. looks matter. but 8k is still nothing compared to 13k.

if i'm the biggest shot in the world, i wouldn't hire any fresh grad at 13k (why should i?), unless i owe somebody a favour.

[shaz]

You should not look at the outliers otherwise you'll end wondering all the time why the world is so unfair. This forum is more like finding the "normal" pay so that we all feel ok. Too many factors to consider in determining one's pay so ignore the +/- 10-20% variation from the norm.

They didn't say that the person earning 13k is working in singapore mah. If you convert it to other currencies (USD, pound, euro), it is a realistic pre-tax salary for IB FO/MO positions in other countries.

And it is entirely possible that the person is not Singaporean, or in some cases holds two passports. (Yes, illegal I know, but many do get away with it)

Hence, finding a job overseas where starting salary is higher is possible.

Would like to see ST do a feature on this individual earning 13k

[k3vin]

yep thats true to be honest, a few of my friends in smu and nus have been hired for microsoft and are now working in Seattle. Their standard base package is $5400usd not including allowances for housing and transport.

So taking that into consideration say $7k+ converted, that will probably be ~sgd10k, so if somebody heads overseas for a finance job, the same scale can be applied.

[blackswan]

Originally Posted by shaz

You should not look at the outliers otherwise you'll end wondering all the time why the world is so unfair. This forum is more like finding the "normal" pay so that we all feel ok. Too many factors to consider in determining one's pay so ignore the +/- 10-20% variation from the norm.

agree. im looking more into the top 20% earners with avg abt $5000 pay

[k3vin]

SMU's batch is really small, so definitely the average of the top 20% would be bumped up by those who choose to go overseas. I would think that the "real" top 20% discounting outliers to be perhaps 4.5-4.7? Thats really within the realm of possibility.

I am an arts grad with a pretty useless major, projected 2.1 hons, finished ns. Some international representation of nus and nation, I am fielding offers at 3.7 +/-. after allowances in both private and gov. I dont think its too big a surprise for someone with a better CV and a FCH to be getting 4.5-4.7. Considering even within the government a FCH male could be hitting ~4k +/- with allowances with a good CV within ministries. What more MNCs which are fighting to hire those? They will probably offer more.

Originally Posted by Unregistered

They didn't say that the person earning 13k is working in singapore mah. If you convert it to other currencies (USD, pound, euro), it is a realistic pre-tax salary for IB FO/MO positions in other countries.

And it is entirely possible that the person is not Singaporean, or in some cases holds two passports. (Yes, illegal I know, but many do get away with it)

Hence, finding a job overseas where starting salary is higher is possible.

Would like to see ST do a feature on this individual earning 13k

this is correct. the CNA article mentioned the 13k fella is working in HK

[blackswan]

Originally Posted by k3vin

SMU's batch is really small, so definitely the average of the top 20% would be bumped up by those who choose to go overseas. I would think that the "real" top 20% discounting outliers to be perhaps 4.5-4.7? Thats really within the realm of possibility.

I am an arts grad with a pretty useless major, projected 2.1 hons, finished ns. Some international representation of nus and nation, I am fielding offers at 3.7 +/-. after allowances in both private and gov. I dont think its too big a surprise for someone with a better CV and a FCH to be getting 4.5-4.7. Considering even within the government a FCH male could be hitting ~4k +/- with allowances with a good CV within ministries. What more MNCs which are fighting to hire those? They will probably offer more.

congrats. a lot of 2.1 arts grad r getting abt 2.5k-3k in private. Thanks to the system of class of hons starting pay and not major, for GOVT they r getting abt 3.5k. Jus curious which ministry offer u 3.7k? MX scheme shd be standard

[k3vin]

The base for ministries is what you have mentioned. I just put 3.7 +/- as a middle ground number between ministries and the other offers I am fielding such as MA. For example, I turned down a PA offer, it is higher than ministry pay after $450 shift allowance. And since I gave some details about myself in another thread, I wont be revealing the exact organizations esp as I am still weighing up their offers.

Just fyi, usually banks' MA programme will pay 4k+
My friends in Citibank now are getting 4+ as MAs.